On Dec. 2, Boston-based life insurer Liberty Mutual Group issued its first policy from its Guangdong, China, office – paving the way for further expansion into Guangzhou, Guangdong Province, the largest property and casualty insurance market in China.

Liberty Mutual is the first foreign property and casualty company focusing on the customer segments of personal lines and small-to-medium enterprises to serve Guangdong’s almost 100 million consumers, as well as its commercial and industrial organizations. With a gross domestic product of $702 billion, Guangdong is China’s largest provincial economy.

With this new branch, Liberty now has four operations in China: Chongqing in western China, Beijing in northern China, Zhejiang in eastern China and Guangdong in southern China. Earlier this year, Liberty Mutual received China Insurance Regulatory Commission approval in March this year to prepare for a provincial branch in Guangzhou.

"Liberty Mutual’s strategy of being the first foreign insurer to enter large markets in China continues to be the key to our success," said Liberty Mutual Group President and CEO David Long. "CIRC’s approval of our Guangdong branch demonstrates our commitment to providing quality insurance in China and reinforces our reputation as a strong global company."